If you're trading with MetaTrader 4, you'll definitely want to check out this nifty indicator that calculates the daily percent change in price. It displays this information right at the top left of your main window, just below the price details.
Why is this important? Well, it can serve as a quick gauge for whether a currency pair is overbought or oversold, helping you make more informed trading decisions.
One of the great things about this indicator is its simplicity—there are no complicated external variables to worry about. It uses a straightforward formula to do its magic:
((current price - open price of daily candle) / open price of daily candle) * 100
That’s it! Easy to understand and implement.
So, if you want to keep your trading on point and avoid those nasty surprises, give this daily percent change indicator a shot!
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